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Deductions & credits
No citation. I'm going by the cost basis, in a gift, being the giver's basis; which I believe includes the giver's holding period, and depreciation previously taken by the giver.
Are you saying that that holding period only applies to capital gains and may not constitute a period of non qualified use for the new owner, for the home sale exclusion? There may be "related party" rules that govern.
‎October 25, 2020
11:59 AM